Himax Technologies (HIMX) Stock Jumps on Q2 Earnings, Revenue Beat
NEW YORK (TheStreet) -- Shares of Himax Technologies (HIMX) - Get Report are up 6.28% to $7.95 this morning after the company announced better-than-expected earnings and revenue for the second quarter of 2016.
Earnings were 11.5 cents per share for the quarter, up 125.5% from the same quarter last year. Revenue was $201.1 million, which represents an 18% year-over-year increase.
These beats come after Himax, a Taiwan-based semiconductor provider, announced last week that the company's CTO of over a decade, Chih-Chung Tsai, would retire at the end of June.
The company did not provide information on Tsai's successor.
The company said that Tsai's retirement would not impact the business or technology development. It cited its flat structure as a reason for continuing innovation despite the loss of a founding member of the company.
"Our organizational structure is flat which allows us to gather ideas directly from our business units and subsidiaries," Himax Chairman Dr. Biing-Seng Wu said in a statement.
"Looking forward, as we expect growth from all of our product segments, this organizational structure is even more critical to the overall success of our business," Wu added.
Separately, TheStreet Ratings rated this stock as a "hold" with a ratings score of C.
The company's strengths can be seen in multiple areas, such as its increase in net income, revenue growth and largely solid financial position with reasonable debt levels by most measures. However, TheStreet Ratings also finds weaknesses including disappointing return on equity and poor profit margins.
You can view the full analysis from the report here: HIMX
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.